Vanco Share Discussion Threads

[ccnp] 07/5/2008 08:08

never overlook the simple fact that any single supplier pulling out one cable could stuff this firm. Big firms will be exiting under Force Majeur

[junk] 07/5/2008 00:09

oh well not a great day... however reading between the lines this must have been planned. You dont just ring up the new guy the day before and say "fancy a job" suspect there is a plan in place for a turn around but that came with a price....i.e a head had to roll. Watching with interest... expect the panic selling when they relist (there will be oppotunity there no doubt). If they were going under i would have expected and indeed they would be obliged to tell us...

[alexacj] 06/5/2008 22:34

Well I posted this back in early Feb and was blown out of the water for "posting rubbish"!!! I've just e mailed my contact a great big thanks for the "heads up".....




"Well I sold my final holding this morning...phew!!.......I bumped into a friend of mine who works in the industry (not for Vanco).....his view is that they are about to lose one of their major contracts......he also said that this customer has "nothing good to say about Vanco"!......the final nail in the coffin for me was when he suggested that he had heard from an employee of Vanco that their sales people were not being paid at the moment.......now that is all rumours and speculation I know....but it was enough for me to take profits and I'm going to watch from the sideline at the moment........his other views seemed to match thoughts that I've read in earlier posts that Van was right when the Telco's were just trying to survive and were happy to do "sweet" deals to gain some revenue stream from their investments.....times have changed.........this is obviously just my opinion....but in today's market I'm staying out for the time being....good luck all holders.....if they sign the remaining 2 outstanding accounts I'm sure you'll see a rapid re-rate back to the £2 mark!!"

[moob] 06/5/2008 22:15

handycam - 6 May'08 - 17:43 - 912 of 916


98% of AIM is pure rubbish. Point proven once more today.





well said that man

[soundfsilence] 06/5/2008 20:50

Why is it when shares underform people make comments similar to 'AIM is pure rubbish', not knowing that the share they're talking about is not even on AIM!

[redhill] 06/5/2008 20:23

VANCO are not an AIM listed company!

They are in the FTSE Small Cap index.

[taffee] 06/5/2008 18:31

vanco will go great guns but shareholders will end up with nothing

how many times has this happened

[masurenguy] 06/5/2008 17:51

I just don't agree with a sweeping generalisation like that. AIM is for emerging businesses which are consequently higher risk than established main market companies. There are good, average and bad companies in this market. There are also a few crooks around who will try and exploit the light regulation that covers this exchange.

In a climate where credit is tight undercapitalised companies can find survival difficult as they try to reach critical mass for their business. I'm invested in several good AIM companies who have excellent prospects. Vanco had a good business model but were very undercapitalized. In a credit crunch market climate they inevitably reached the point where they just ran out of road !

[handycam] 06/5/2008 17:43

98% of AIM is pure rubbish. Point proven once more today.

[redhill] 06/5/2008 17:35

There is an EGM on 16th May so we should get more information by then.

[masurenguy] 06/5/2008 15:33

jonwig - similar scenario for me. The business model looked promising BUT it was evident that they were grossly under capitalized to fund it. They were able to get away with it whilst credit was both cheap and readily available but as soon as that situation began to change last year the writing was on the wall.

[jonwig] 06/5/2008 12:56

He's an accountant, latifs.

I tried, unsuccessfully, to make sense of their accounts last year.
Because I couldn't, I got out the bargepole.

[latifs100] 06/5/2008 12:54

another simon cawkwell (evil bear raider ) success.. how does he do it..i sudda followed his tip.

[taffee] 06/5/2008 12:15

I think you are right...torex were counting contracts even before they were signed and historic contracts proved to actually be unprofitable.

[02bursar] 06/5/2008 11:47

Message 903

Tafee "I would suggest the new fd blew the whistle so to speak by refusing to sign off the accounts...."

According to a previous update, the new FD was preparing a statement regarding the change of accounting policy and its consequences ahead of the announcement of the final results. PW-C had already done a balance sheet review according to the previous update and ought to have completed the audit. Something must have come up at that audit and I suspect it's over going concern issues notwithstanding the extension of bank borrowing facitlies announced recently.

Clearly there have been issues over that changed accounting policy which have been reverberating, not only through the final accounts but through the forecasts on which the cash flow projections would have depended, as the latest statement speaks of further provisions against the carrying value of certain assets.

I can only now speculate the extent of those provisions and who is likely to have forced the hand of the CEO and founder to resign at such a critical time.

Disappointed doesn't come anywhere near how I feel about certain former executives of this company.

[redhill] 06/5/2008 11:28

Maybe.The company appears to be trading profitably and whether there is a major accounting situation remains to be seen.I should imagine the bank has forced the resignation of the CEO and brought in Coppell to restructure the business.

[astol] 06/5/2008 09:56

Got back in today after selling out at the £4 mark.Looking good for a bounce back to £2 as very oversold-Good luck REDHILL
Thes may end up 5p a share

[jecpotter29] 06/5/2008 09:43

Has anyone called any of the numbers listed to ask how long they expect the suspension to remain in place ?

[02bursar] 06/5/2008 09:08

Statement re. Suspension

Vanco PLC
06 May 2008

VANCO PLC (THE "COMPANY")

SUSPENSION OF LISTING

6 MAY 2008



Vanco plc has today requested that the UK Listing Authority suspend trading in
its securities pending clarification of its financial position.

A further balance sheet review is being undertaken and further provisions
against the carrying value of certain assets are expected. The profitability of
the business for the year ended 31 January 2008 is also being reviewed and may
be the subject of revision. The Company is therefore unable to update the market
accurately on its historic financial results and inform the markets accordingly.

In view of the above it is unlikely that the Company will be able to publish its
audited results for the year ended 31 January 2008 by 30 May 2008 as is required
by the Disclosure and Transparency Rules. A further announcement will be made in
this regard in due course.

On 1 April 2008 it was announced that the Company had agreed an extension to the
Company's revolving credit facility ("RCF") with its syndicate of banks in the
sum of £23.3m, taking the total available under the facility to £123.3m. The
Company has limited headroom under the RCF and other facilities. The Company is
in active discussions with its banking syndicate in respect of its financial
position.

The Board of Directors is discussing the Company's financial and strategic
options with its advisers and bankers.

Directorate change

Allen Timpany, Chief Executive Officer and founder of the business, has resigned
with immediate effect.

Andrew Coppel, the former Chief Executive of Jockey Club Racecourses and Queens
Moat Houses plc, has joined the Company as Chief Restructuring Officer

[8trader] 06/5/2008 08:45

Totally agree.

Cant believe the sheer arrogance of some people that post here !

He will be wasting his time as everybody will have filtered him
that reads this thread !

[taffee] 06/5/2008 08:32

who cares what you think...share trading is about being positive or negative on shares you own based on information at the time..things change all the time.

you two seem like hindsight whingers who don't even trade shares..again..no-one cares what you think lol!

[masurenguy] 06/5/2008 08:30

I see the CEO has already departed - not a very positive sign in relation to any future potential restructuring or rescue attempts by third parties !

"SUSPENSION OF LISTING: 6 MAY 2008
The Board of Directors is discussing the Company's financial and strategic
options with its advisers and bankers.....Allen Timpany, Chief Executive Officer and founder of the business, has resigned with immediate effect."

[esmerelda] 06/5/2008 08:04

"taffee - 5 Feb'08 - 13:15 - 621 of 894
listen guys and gals..I don't think you understand the business model at all.
Had the same with autonomy..investors simply didn't get it....eventually theey did."

Yes, I think we do now and I completely agree with 8Trader.